Ethereum’s Active Addresses Surge 10% in 48 Hours as ETH Breaks Key Resistance
Ethereum on the Move: Active Addresses Spike as ETH Breaks Resistance
Ethereum (ETH), the second-largest cryptocurrency by market capitalization, is showing signs of renewed momentum. Over the past 48 hours, Ethereum’s active addresses have surged by 10%, indicating a sharp rise in network activity and user engagement. This spike coincides with ETH breaking a key resistance level, adding fuel to the bullish sentiment across the market.
Ethereum Network Activity Hits New Highs
According to data from on-chain analytics platforms, active Ethereum addresses have seen a rapid increase, suggesting more wallets are interacting with the network. This surge often reflects growing confidence among users, increased trading activity, and potentially more developers deploying or interacting with smart contracts.
The increase in activity could also be attributed to recent DeFi protocol launches, NFT marketplace upgrades, or layer-2 adoption trends, all of which are driving more transactions on the Ethereum blockchain.
ETH Price Breaks Through Crucial Resistance
At the same time, ETH has successfully broken past a major resistance zone at $3,200, a level that had previously held back price gains for weeks. With this breakout, Ethereum is now eyeing the $3,500 psychological level, which could serve as the next major target if bullish momentum continues.
Technical analysts note that if ETH maintains its current volume and closes above $3,200 for several consecutive days, the breakout may confirm a sustained upward trend, possibly paving the way toward pre-2022 highs.
Bullish Fundamentals Back Price Action
The rise in both price and on-chain activity comes amid a broader wave of optimism in the crypto market. Key factors contributing to Ethereum’s momentum include:
- Upcoming Ethereum upgrades improving scalability and reducing gas fees
- Institutional interest in Ethereum through ETH ETFs and staking services
- Growing adoption of DeFi and NFTs, which continue to rely heavily on Ethereum’s network
- Reduced ETH supply due to continued burning from EIP-1559
What’s Next for Ethereum?
With the increase in active addresses and a successful breakout, many traders and investors are now watching for confirmation of a sustained rally. If Ethereum can hold above its new support zone, analysts suggest we could see a push toward $3,500 and beyond in the coming weeks.
However, short-term volatility remains a factor. Watch for pullbacks or consolidation near support zones, which may offer new entry points for traders looking to capitalize on Ethereum’s renewed strength.
Key Takeaways:
- Ethereum’s active addresses rose 10% in just 48 hours.
- ETH broke through the $3,200 resistance, signaling a bullish breakout.
- On-chain activity and bullish fundamentals point to growing momentum.
- ETH could target $3,500 next, depending on market confirmation.
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